Business News

Business and economic news from Nigeria and around the world.

Bank Of Industry Set To Release $500million Facility For Entertainers & SME’s

The Bank of Industry (BoI) and the Africa Development Bank (ADB) are set  to release a $500 million credit facility. All formalities for the release...

PZ Wilmar To Invest $640million In Nigeria’s Palm Oil Market

PZ Wilmar, a joint venture of PZ and Wilmar international is set to invest $640 million to help revive the already diminishing palm oil...

Naira Falling Quickly Against The Dollar. Now At 10 Months Low

  Nigeria's naira currency fell to its weakest level in almost 10 months on the interbank market on Friday, driven down by strong demand for...

Video:Watch Founder Of Ocean Basket Talk About The Company He Started Modestly In 1995

Fats Lazarides founder of Ocean Basket talked about how he started Ocean Basket in Pretoria South Africa. He founded the company after realising decent...

Video: First Bank Uses Impressive Cartoon Characters To Inform Customers Of Planned Upgrade

I thought this First Bank Ad was cool and quite ingenious. Great hippie cartoon characters with a lovely background music. It's amazing the way...

Drogba Buys Stake In Ivory Coast’s £1billion Gold Mine

Former Chelsea star Didier Drogba has taken a stake in an Ivory Coast gold mine, the latest sign of his increasing engagement in his...

BOI Plans To Increase Its Capital To N750billion And Has Lent Out N238billion To...

The Federal Government has given approval for the recapitalisation of the Bank of Industry (BOI) to the tune of N750 billion. Mr Joseph Babatunde, the...

Enugu State Hands Over Flour Mill To Vietnamese Company For Resuscitation

  ENUGU State Government has handed over the State owned Sunrise Flour Mills Emene, Enugu to Dao Gia Vtv Nigeria Limited, a Vietnamese-Nigeria Company for...

Nestle Md Retires, Company Appoints New South African MD

The Company notified The Exchange of the retirement of Chief Olusegun Osunkeye as a Director and Chairman of the Board Directors of Nestle Nigeria...

UACN To Spin Off Registrars Business, Signs SPA With African Prudential Registrar

  UAC of Nigeria Plc (‘’UACN’’) and Africa Prudential Registrars Plc (‘’APR’’) notified The Nigerian Stock Exchange that the two Companies have executed a Share...

AGM Watch: NPF Microfinance Bank To Pay 10 kobo Per Share To Shareholders

The board of the Nigerian Police Force Microfinance Bank Plc has announced that the bank will pay a dividend of 10 kobo per share...

Porting Again? Saka, Made A Mistake, He Will Port Back- Etisalat Boss

Managing Director and Chief Executive Officer, Etisalat Nigeria, Steven Evans, yesterday described the decision of one of the brand’s artiste, Afeez Oyetoro, popularly known...

No Love Lust: FAAN Yanks Off Bi-Courtney Ads From MMA 2

  The dispute between the Federal Airports Authority of Nigeria and Bi-Courtney Aviation Services Limited in respect of concession agreement for the Murtala Muhammed Airport...

MTN Replaces Of 285 Expatriates With Nigerian Workers To Save Costs

Leading digital mobile operator, MTN Nigeria Communications Limited, has replaced 285 expatriates with Nigerian workers in a move to save costs and also encourage...

Etisalat Is Yet To Break-Even In Nigeria, Targeting 2015

  WITH over 15 million subscriber base and over six years of operations in Nigeria, Emerging Markets Telecommunications Service Company trading as Etisalat in the...

Stanbic IBTC Plc Begins Non-Interest Banking

Stanbic IBTC bank has introduced Imaan Current Account, a non-interest product into the Nigeria banking market. According to the chief executive officer of the bank,...

Online Foam: Mouka Foam Partners With Konga and Jumia

Mouka Limited is partnering two online stores Konga.com and Jumia.com, to provide internet based platforms for transaction between the company and its customers. Managing Director...

Livestock Feeds Still Struggling to Integrate With UAC One Year After Acquisition By UAC

  The Chairman of the company, Mr. Larry Ettah noted that a lot of challenges remained to be tackled in the process of integrating the company...

Consolidated Discount House Will Pay N2.1billion As Dividends To Its Shareholders

  The Consolidated Discount House Limited (CDL) Wednesday declared a total dividend payout of N2.1 billion to its shareholders in its financial year ended December...

World’s Largest TV!!! Sharp’s 90- Inch Television Arrives Nigeria

  Sharp, Middle East and Africa, part of Sharp Corporation, has announced the arrival of the world’s largest commercially available television, the 90 inch Aqua...

AGM Watch: Lafarge Increases Dividend Payout By 60%

Shareholders of Lafarge WAPCO Nigeria Plc have enjoyed bountiful returns on their investment as the company’s increased its dividend pay-out by 60 percent for...

Why Telecoms Can’t Guide Mobile Money -CBN

The Central Bank of Nigeria (CBN) has explained why it is unable to adopt a telco-led approach in the execution of mobile money services. CBN Governor Sanusi...

AGM Watch: Lean Africa (Formerly Longman) Approves 20kobo Dividend For FY 2012

Despite the impact of piracy, which negatively impacted the publishing industry in 2012, shareholders of Learn Africa Plc, last week in Lagos smiled home...

Did You Know Nigeria Had/Has A Venture Capital Law Packed With Incentives? Check this...

  I was doing some research on Investment laws in Nigeria only for me to bump in on a certain   VENTURE CAPITAL (INCENTIVES) DECREE NO....

Presco Oil Goes Retail…Introducing 5 & 20ltrs Oil Packs

If the advertorial I saw in the papers is anything to rely on then it confirms Presco Oil is set to introduce 5ltrs and...

Citi Bank Gloats: We Raised $400million Loan Facilities For Fidelity Bank

Citi Bank in Nigeria is a relatively small banking unit when compared to the its operations in Europe and in America. However, that will...

Like Really?? Oil And Gas Industry Needs A Bailout. Oil Company C.E.O

  The GMD/CEO of Mainland Oil and Gas, Mr. Chris Igwe was interviewed by a Daily Trust Reporter reporter and published on their website today. I thought...

AGM Watch: Mobil Shareholders Approve N5 Dividend Per Share For FY Dec 2012

“As we continue to plan for the challenges ahead, the directors recognise the need to constantly focus on shareholder returns that are competitive and...

Transcorp Plc Extends N13billion Rights Issue To June 7, 2013

  The Securities and Exchange Commission (SEC) has approved  a one-week extension for the Transnational Corporation of Nigeria (Transcorp) rights issue to enable wider shareholder...

Corporate Action: CAP Plc Proposes 1 For 4 Bonus Issues, UACN 1 For 5

CAP Plc Board of Directors have approved a 1 for 4 bonus issue and will be approved on their AGM date set for 24th...

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